Improvements towards the identification and quantification of relationships between key performance indicators

Jooste, J. L. ; Botha, L. J. (2018-08-31)

CITATION: Jooste, J. L. & Botha, L. J. 2018. Improvements towards the identification and quantification of relationships between key performance indicators. South African Journal of Industrial Engineering, 29(2):92-101, doi:10.7166/29-2-1872.

The original publication is available at http://sajie.journals.ac.za

Article

ENGLISH ABSTRACT: The quantitative relationships at the performance measurement system (QRPMS) is a methodology for identifying and quantifying relationships between key performance indicators. These relationships present additional information for decision-making purposes. QRPMS employs the Guttman-Kaiser criterion (K1) to complete a critical step during the methodology. This study presents evidence that the K1 criterion has limitations that compromise the reliability of QRPMS’s results. An improved QRPMS version is developed, and the results of the existing and improved QRPMS are compared in a mining industry case study. It is shown that the improved QRPMS delivers more accurate and reliable results.

AFRIKAANSE OPSOMMING: Die quantitative relationships at the performance measurement system (QRPMS) is ’n metodiek om verwantskappe tussen sleutel prestasie-aanwysers te identifiseer en te kwantifiseer. Hierdie verwantskappe bied addisionele inligting vir besluitnemings- doeleindes. QRPMS maak gebruik van die Guttman-Kaiser kriterium (K1) vir die uitvoering van ’n kritieke stap gedurende die metodiek. Die studie lewer bewys dat die K1 kriterium beperkinge het, wat die betroubaarheid van QRPMS resultate beïnvloed. ’n Verbeterde QRPMS weergawe word ontwikkel, en die resultate van die bestaande en verbeterde QRPMS word vergelyk in ’n mynbou-industrie gevallestudie. Die meer akkurate en betroubare resultate van die verbeterde QRPMS word geïllustreer.

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